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AI Rules. AI Is Real. AI Is Useful. Long Live AI.

By Robb Gaynor

This blog follows as a full retraction from the earlier blog, “Chatbots will be smart but artificial intelligence doesn’t exist yet,” which claimed AI is not real or useful. It is both of those things and neither of them. Full retraction stated and received!

“Chatbots will be smart, well-informed even but not artificially intelligent. Computers cannot think by themselves. They don’t self-correct. They don’t learn on their own. No!“  That was the opening statement of the previous blog. Talk about controversy. Seems everyone, including me, is an expert on AI. Well, well, well. Some people are a bit sensitive no? OK, let’s clarify right up front. AI, as I define it, may not exist today and may never. But, that said, AI is a real thing in use today. I’ve even learned recently about new ways of talking about AI like “deep-learning”. Google it. I can’t explain it to you but I am sure when you read about it you will see and fully comprehend the subtle differences with AI. Now this is not to be confused with the “deep-state” recently talked about by politicians. Do not Google that term as you will probably wind up on some Government watch list.

OK, lets get down to it. AI, as it exists today is useful. We use it. At Malauzai, it helps us learn. Our apps morph based on how a user behaves. We use AI to drive this process. So there, see. AI is so useful, it is in production today. How wrong I was. I never talked about this feature as AI but it is a form of it for sure. We also use AI in our data center. There is software, deeply embedded in our stack of technology, there is that “deep term again, that analyzes data and looks for patterns with the goal of self-correcting, keeping us humming along, at high service levels. AI in this case analyzes data and learns. Past behavior influences future analysis. AI. OK, got it. I see how this works. AI, even though it is rules-based and programmatic, in that someone had to tell it what to do, AI can emulate intelligence. It can perform tasks at a level that emulates human behavior (the Turing AI test). Ah yes, I am now all into The Turing Test. Hundy P! My use of the term Turing Test is not quite a pure definition but close enough for tiddlywinks. Sorry millennials you probably don’t understand that reference but it also applies to Horseshoes.

So AI exists. And it is in use. And as we further develop Chatbots for financial services, we will further extend our use of the AI set of technologies. No, it is not self-learning or computers that think on their own. AI today might even fall short of the Turing Test as much of it is not conversational quite yet. Conversational Banking and how it chooses to use AI will further push the envelope. For us, the Malauzai AI engine will expand to all sorts of new applications. Who knows, we might even achieve “deep-learning.” We are all excited about conversational banking and how AI can apply and how it already does. All that data we have collected, literally hundreds of millions of mobile and internet banking sessions, will be fodder for the AI we will throw at it, the data will be fodder I say. See how great AI is, great I say. Alive, real and great. Long live AI.

Robb Gaynor

Robb Gaynor

Founder & Chief Product Officer

Robb heads up the product development and marketing of the organization, focused on ensuring the company has solutions at the cutting-edge of mobile innovation. Robb has over 23 years of experience in the financial services industry, having previously served in leadership roles at Union Bank of California, Digital Insight/Intuit, and other large global financial organizations including Swiss Bank Corp, Charles Schwab and Wells Fargo Bank.